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WHAT'S GOING ON IN THE INDIANA
MARKET?
Here you can find the latest residential market trends for Northwest Indiana. Understanding the months of inventory, list-to-sold price percentage, median days on the market, and median sold price is essential to becoming an educated buyer or seller. You can compare the data to the value of your own home and use it to price it accordingly. It is also a helpful reference point when searching for potential new homes to compare with other homes in the same area.
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Data Found On Realtors Property Resource®, LLC
Lake County
April Market Trends
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First, let's look at the Month's Supply of Inventory, which currently stands at 2.38. This metric indicates how long it would take for all current homes on the market to be sold at the current sales pace. A lower number like 2.38 suggests a seller's market, where demand is high and supply is limited. The median Days Homes are On the Market is 27, which is a relatively low number indicating that homes are selling quickly. This is likely due to the high demand and limited supply mentioned earlier. The List to Sold Price Percentage being 100.4% suggests that, on average, homes are selling for slightly above their listing price. This could be a result of competitive bidding among buyers in a seller's market. Lastly, the Median Sold Price of $250,000 gives us an idea of the average price at which homes are selling. This can be a helpful benchmark for both buyers and sellers to understand the market value of properties.
Porter County
April Market Trends
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First, let's look at the Month's Supply of Inventory, which currently stands at 2.24. This metric indicates the number of months it would take to sell all the current inventory of homes on the market at the current sales pace. A lower number typically signifies a seller's market, where demand exceeds supply. With a Median Days Homes are On the Market of 27 days, sellers can expect relatively quick sales, while buyers may need to act fast when finding a property they are interested in. This metric reflects the overall demand in the market. The List to Sold Price Percentage is 98.7%, suggesting that homes are selling close to their listing price. This could indicate a competitive market where sellers are receiving offers close to their asking price. Lastly, the Median Sold Price of $303,000 gives buyers and sellers an idea of the current market value of homes in the area. This metric can help sellers price their homes competitively and give buyers an understanding of what to expect in terms of pricing.
St. Joseph County
The monthly supply of Inventory, which currently stands at 1.41, indicates the number of months it would take to sell all available homes on the market if no new listings were added. This low supply suggests a competitive market with limited inventory. The Median Days Homes are On the Market is relatively low at 18 days, which suggests that properties are selling quickly. This could be due to high demand, low inventory, or competitive pricing strategies. The List to Sold Price Percentage of 97.4% indicates that homes are typically selling for close to their asking price, which may be a result of accurately priced listings or strong negotiation skills. Finally, the Median Sold Price of $176,000 gives an indication of the average selling price of homes in the market. This figure, combined with the other metrics, can help buyers and sellers determine the current market conditions and make informed decisions on pricing and timing.
April Market Trends
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